Blockchain-based solutions provider for commercial banks adds former leaders from Bank of America Merrill Lynch, London Stock Exchange.
Tassat® Group Inc., the leading provider of real-time, blockchain-based payments solutions for commercial banks and their B2B customers, today announced several appointments to bolster its leadership team in response to growing demand for Tassat’s innovative product offerings.
Tassat Generates Record Interest From More than 200 Banks in the Digital Interbank Network™ and Names New CEO
Tassat Group Inc., sponsor of the Digital Interbank Network (The Network), today announced that they are in discussions with more than 200 banks about joining The Network, which will enable member banks to execute secure and instantaneous real-time payments and other banking services between their commercial customers, 24/7/365, via private, permissioned blockchains.
About five years ago, U.S. banks began talking to organizations like R3, Ripple and Digital Asset Holdings and the Enterprise Ethereum Alliance about developing shared digital ledgers that would make the banks more efficient and help them work with one another for cross-border payments and other purposes.
Western Alliance Bank transferred $1.1 million digital dollars to Coastal Community Bank in an inaugural demonstration last week of a new payment rail built on blockchain technology.
More than 100 U.S. banks watched the real-time transfer between $50 billion Western Alliance Bank and $1.5 billion Coastal Community Bank Dec. 16.. The Digital Interbank Network — owned and governed by member banks and slated to go live in 2022 — is built on blockchain by New York-based Tassat Group, the network’s sponsor, which said it was the first transfer of digital dollars between banks.
More Than 100 US Banks Observe Tassat Group Execute the First Real-Time Digital Payment Between Two Banks Using Blockchain Technology
Tassat Group Inc. unveiled the nation’s first real-time Digital Interbank Network (“The Network”) and the technology infrastructure behind it with a live demonstration attended by more than 100 banks from around the country.
Financial technology platform Tassat will roll out a platform that uses blockchain to allow bank customers to send each other payments that would usually take days in a matter of minutes.
New York-based Tassat announced plans to launch the network some time next year during a presentation Thursday in New York. Western Alliance Bancorp sent Coastal Community Bank $1.1 million across the network in a demonstration at the Times Center on 41st Street. Silver and blue balloons rained down on the stage once the transaction was complete.